Six Flags-Cedar Fair merger won’t force sale of Magic Mountain or Knott’s Berry Farm

Guests ride the new Wonder Woman Flight of Courage roller coaster at Six Flags Magic Mountain in Valencia, one of two Southern California theme parks that would be owned by the same company under a Knott’s-Six Flags merger. The U.S. Department of Justice won’t force the sale of Southern California rivals Six Flags Magic Mountain or Knott’s Berry Farm in approving the $8 billion merger of the two parent companies into a North American amusement park juggernaut.

Cedar Fair’s CEO Richard Zimmerman will retain the same position in the combined company that will be renamed Six Flags Entertainment Corporation and Six Flags CEO Selim Bassoul will become the new chairman of the board. The Justice Department could have required the newly combined company to sell off Magic Mountain or Knott’s in order to encourage competition in the Southern California marketplace.Together, Cedar Fair and Six Flags will have a portfolio of 27 amusement parks and 15 water parks in the United States, Canada and Mexico that attract 48 million visitors a year.

Knott’s Berry Farm and Six Flags Magic Mountain both rank among the Top 20 North American amusement parks, according to the TEA/AECOM annual report.Knott’s and Magic Mountain share some fans, but are on opposite sides of the Los Angeles metropolis. Southern California is home to seven theme parks and the local Cedar Fair and Six Flags locations have coexisted and competed in the region for decades.

There are plenty of differences between the two parks. Knott’s has long positioned itself as one of America’s oldest theme parks with themed lands akin to Disneyland. Magic Mountain is a “steel park” that brags about having more roller coasters than any other amusement park in the world.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cedar Fair sets July 1 merger date with Six Flags, announces new company’s management teamAmong the parks impacted by the merger are Cedar Point and Kings Island in Ohio, both owned by Cedar Fair.
Source: clevelanddotcom - 🏆 301. / 63 Read more »

Six Flags' merger with Cedar Fair to be completed July 1; shares jumpThe new company will operate as Six Flags and be based in Charlotte, N.C. Six Flags now calls Arlington home, while Cedar Fair is in Sandusky, Ohio.
Source: ExpressNews - 🏆 519. / 51 Read more »

Six Flags will move headquarters after Cedar Fair merger closes July 1Six Flags and Cedar Fair will soon be wrapping up its merger on July 1. The new combined company will move Six Flags out of Arlington after four years at its...
Source: dallasnews - 🏆 18. / 71 Read more »